Hi Richard
A linisher will cut a lot faster and cooler than a grindstone. Look for one with a solid frame and well supported rollers Some have Auto tracking mechanisms as does this industrial one ,expensive …. I wish
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I have a Taiwanese one it is Ok but with fine belts particularly the tracking is a pain, requiring constant adjustment. I use it mainly on steel parts that I want to look good while not requiring accurate geometry.
You have to be careful with sharp edges that can dig into the belt and cause a nasty crash that can rip the belt to shreds and send your part flying. Grinding the relief angle of HSS lathe tools where you want to grind from the top face to the bottom as you would a chisel to avoid overheating the cutting edge presents a point that can dig into the belt (particularly the join in the belt) and cause just such a crash particularly if you use a rest…. I know.
For grinding HSS tools I use a grinder I built based on the Worden design I posted here a while back. Before that I used an 8 inch bench grinder with an improved large area rest.
I think adapting a bench grinder may be a better option than a linisher. You will get much better work if you diamond dress the wheel(s) and Ideally leave this machine set up for tooling and fine work only. You can get diamond cup wheels for a reasonable cost these days, maybe you could make a wheel adaptor and a new adjustable rest for one of these for the second wheel on the machine.
Regards
John